I’m a person who likes to make a positive difference in everything I do. This blog is no exception. Beginning with this first post, I’ll share honest perspectives, creative solutions—and even a few bold ideas—for middle market banks to achieve their strategic agendas and differentiate in the market. For those who don’t know me, I…
When our researchers were in the field for our annual Technology Vision survey, COVID-19 was not yet a global pandemic. Since then, the virus has transformed our lives and challenged many long-held assumptions about how business operates. For banks, the effects can be seen everywhere: in their revenues, credit losses, and profits, in the behavior…
What drives change in an industry? Businesses? Consumers? Government regulations? In the case of touchless payments in the United States, change has mostly moved at a glacial pace—until COVID-19. Touchless payments have expanded rapidly in countries throughout the world—and the benefits are significant—so why did it take a global pandemic to move the needle in…
Pillar 4: Communicate effectively Communication is critical in ensuring that central banks can carry out their mandates effectively on a range of topics. These include: regulation and monetary policy, consumer protection, fraud and Anti-Money Laundering (AML), the national economic outlook, the financial sector’s outlook (for international agencies and global regulators), emerging technologies and innovation (for…
In this blog series, I’ve been highlighting the top key performance indicators (KPIs) that banks should be tracking to measure the success of their Open Banking initiatives. My last post covered the KPIs for business-value and customer-experience outcomes in Open Banking. Today, I want to delve into another important area—the ecosystem of developers, platforms and…
Key themes The spending effects of the pandemic were fully felt in Q2 as most issuers report large declines in purchase volume between 15-30%, and receivables decline between 3-17% YoY. Alliance Data and American Express, in particular, experienced a 30%+ decline in spend YoY, driven by the headwinds of store-based retail (ADS) and T&E sectors…
